By Eric Smith

Details: Barnhart Crane & Rigging Co. has paid $2.6 million for the industrial property at 2085 W.E. Freeman Drive in the Defense Depot area as part of its local expansion.

The Memphis-based company bought the 153,455-square-foot facility in a June 27 special warranty deed from Varma Family LP.

The board of the Economic Development Growth Engine for Memphis and Shelby County last month approved a nine-year payment-in-lieu-of-tax (PILOT) program for Barnhart.

The company plans to invest $5.2 million in the property, including the addition of a 60,000-square-foot warehouse. The expansion should add 20 jobs, at an average salary of $64,532, and create $838,043 in new tax revenue for the city and county.

The project will bring in $1.27 of new tax revenue for every $1 abated, according to EDGE.

Built in 1990, the Class C industrial building sits on 14.4 acres on the west side of W.E. Freeman Drive north of Memphis Depot Parkway. The Shelby County Assessor of Property’s 2013 appraisal is $1.5 million.

Details: Old Dominion Freight Line Inc. has paid $1.5 million for 59.2 acres of land at Airways Boulevard and State Line Road for its Memphis expansion.

The Thomasville, N.C.-based company bought the land, which abuts Interstate 55 at the Tennessee-Mississippi state line, June 27 from Ferrell Properties.

The purchase closed a week after the city-county Economic Development Growth Engine (EDGE) approved a nine-year payment-in-lieu-of-taxes (PILOT) program for Old Dominion.

EDGE awarded Old Dominion a nine-year PILOT to add 188 new jobs and invest $31.3 million in a building on the newly acquired land. Old Dominion, a less-than-truck-load carrier, said it had outgrown its current facility at 3050 Carrier Road.

According to an EDGE staff report, the project will create $7.8 million in new tax revenue for Memphis and Shelby County.

The average salary of the new employees will be $52,111. EDGE staff predicts the deal will produce $1.60 in tax revenue for every $1 in taxes abated.

The vacant land that Old Dominion bought has a 2013 appraisal of $270,400, according to the Shelby County Assessor of Property.

Details: The LaBelle Haven Baptist church at 6825 E. Holmes Road in Hickory Hill has been sold for $1.8 million.

New Life in Christ Fellowship Church of Mississippi bought the church in a June 24 warranty deed from LaBelle Haven Baptist Inc.

Because it is exempt from property taxes, dwelling information isn’t available on the Shelby County Assessor of Property website, but the church sits on 14.9 acres on the south side of East Holmes Road between Riverdale and Ross roads.

New Life in Christ Fellowship Church, which has a church in Olive Branch, filed a $1.6 million deed of trust through Sycamore Bank in conjunction with the purchase.